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Well, that's not strictly true. By raising the price of tickets to what the market will bear, they force some people out of the marketplace, increasing availab
by zzalpha 9y ago
Well, that's not strictly true.
By raising the price of tickets to what the market will bear, they force some people out of the marketplace, increasing availability of tickets for those who can afford them.
And from the perspective of the artist and Ticketmaster, they eliminate some of the risk of tickets going unsold.
Of course, it's understandably seen as very unfair (goodness knows I've missed out on shows I wanted to go to because scalpers raised the price beyond the level I was willing to pay), but I wouldn't say it has no value.
- notlefthanded 9y agoI can't help but think that if an IPO went like this, and the share price ballooned after colo'd bots scooped up the cheap shares, people would be up in arms about the company leaving money on the table. Just the people in this case are the artists, who traditionally get screwed anyways. And ticketmaster doesn't have the same incentive for accurate pricing. Also there's social stigma of money being the gatekeeper to fun/cultural things.
- zzalpha 9y agoWhy do you believe money is being left on the table? TBH, I've never really understood this argument. Unless the argument is that the artist is being forced to set a lower face value, if all the tickets are sold at face value and scalped, the artist is getting exactly what they would have budgeted for. So, are you saying the artist is being forced to sell the tickets at a price that's below what the market will bear?